Business

Sri Lanka facing a crisis of confidence - business leader

23 July 2019 - 94   - 0

“Businesses playing a role in regaining and sustaining Sri Lanka’s economic resurgence is of great relevance, especially as the country is experiencing a feeling of uncertainty and challenges,” according to Chairman of MAS Holdings, Mahesh Amalean.

In comments released by the Ceylon Chamber of Commerce (CCC) while he was speaking about Sri Lanka’s current economic context at a panel discussion organised by the CCC recently, he highlighted that the constitutional crisis which the country experienced last October and the Easter Sunday Attacks, have together created confusion and lack of confidence about the country’s collective leadership.

“The detrimental impacts of the recent incidents are so visible, that the numbers speak for themselves. For instance, if we consider our GDP growth rate, at the beginning of the year it was projected to be around 4 per cent for 2019. However, with these unfortunate incidents, the growth rate for Sri Lanka has been downgraded to be between the range of 2.5 per cent to 3 per cent, the lowest for the past 18 years,” he was quoted as saying.

What can be done to address these issues and how does one regain and sustain economic resurgence? For Mr. Amalean, the solution is simplicity itself: To have clarity, be focused and to never let negatives pull you down.

“As a business, what we have done is to look at the next two years to strengthen our core business. We need to build internal strength. I believe clarity gives us enormous strength, direction and focus in a challenging environment,” he added.

  Comments - 0

  • Leave a comment



Top Stories

Ban on extremist groups to continue despite withdrawal of Emergency : Police

The government's decision to end the state of emergency will not affect the ban on extremist groups and the investigations into the Easter Sund...

24 August 2019 - Views : 94

President instructs tri-forces to maintain security as govt. withdraws Emergency

24 August 2019

Heavy showers, winds predicted today

24 August 2019

Water levels in Central region reservoirs rise by 80 percent - engineers

24 August 2019



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

How concept bookstore 'Venpaa' in Jaffna is meeting a need for Tamil literature

'Venpaa' in Tamil refers to a branch of classical Tamil poetry. Bearing this classic Tamil name, a distinctiv...

In pictures : Groundbreaking ceremony for 'Fantasy Island' theme park at Battaramulla

Waters Edge, together with Melchers Project Management Ltd having announced plans to build a theme park overlook...

Bharatha Natyam Recital at the Swami Vivekananda Cultural Centre

A Bharatha Natyam Recital by Anuka King will take place at the Swami Vivekananda Cultural Centre (SVCC), Hi...

Discovery of exoplanets by Lankan Team

For the first time in the island’s history, a group of Sri Lankans has discovered a new extra-solar planetary s...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">